TB Alternative Assets Ltd. Takes $1.30 Million Position in Deere & Company (NYSE:DE)

TB Alternative Assets Ltd. acquired a new stake in shares of Deere & Company (NYSE:DE) in the 1st quarter, HoldingsChannel reports. The firm acquired 2,768 shares of the industrial products company’s stock, valued at approximately $1,299,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at approximately $34,000. Mascagni Wealth Management Inc. purchased a new stake in Deere & Company during the 4th quarter valued at approximately $39,000. Dogwood Wealth Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at approximately $42,000. Finally, Sierra Ocean LLC purchased a new stake in Deere & Company during the 4th quarter valued at approximately $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on DE shares. Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Argus set a $510.00 price objective on Deere & Company in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Bank of America boosted their target price on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Finally, Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Stock Performance

DE opened at $519.62 on Friday. The stock has a market cap of $140.73 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $479.20 and its 200 day simple moving average is $466.37. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.53 EPS. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.